These figures are reported in accordance with the debt reporting policy that forms the basis of the SRO’s debt management program. The policy’s critical elements are:
assessed tax is reported as debt once the due date for payment has passed, and
the reported debt comprises primary tax only.
Debt under instalment payment arrangements was $22,285,671
Disputed debt was $99,477,658 and is not shown in the total debt.
Insolvency debt was $65.7 million. This debt is comprised of debtors under the control of an insolvency practitioner with SRO recoveries limited to any dividends paid. Insolvency debt is not included in the debt total.
There was no deferred debt.
Outstanding penalty, interest and additional tax charges totalled $34,255,478
Debts are only written off when all reasonable recovery steps have been exhausted.